Price Ceilings

question 45

Multiple Choice

Price ceilings:

• A) improve the allocation of resources because consumers with the greatest need for the product are more likely to afford the product.
• B) misallocate resources because consumers who buy the product may not be the ones who value it the most.
• C) misallocate resources because they allow consumers to compete against one another by offering sellers higher prices.
• D) improve the allocation of resources because consumers are prevented from bidding up the price of products.

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Definitions:

Salt

Compound that releases ions other than H+ and OH– when it dissolves in water.

Environments

The surroundings or conditions in which a person, animal, or plant lives or operates, including natural, built, and social contexts.

Lysogenic Pathway

Bacteriophage replication path in which viral DNA becomes integrated into the host’s chromosome and is passed to the host’s descendants.

Lytic Pathway

Bacteriophage replication pathway in which a virus immediately replicates in its host and kills it.